GoPro climbs with analysts getting positive after sell-offThe shares of action camera maker GoPro (GPRO) are rising after research firm Robert W. Baird upgraded the stock to Outperform from Neutral in a note to investors earlier today. The company's penetration of the active sports market is still in the early innings, the firm contended. WHAT'S NEW: GoPro sold 5.2M cameras last year, but there are hundreds of millions of action sports enthusiasts around the world, while everyday use of the company's cameras is growing, Baird analyst William Power wrote. As a result, the company's market penetration is still in its early stages, the analyst contended. Although GoPro is likely to face growing competition, its strong brand and distribution should make it difficult for other companies to take share from the action camera maker, contended the analyst. Moreover, even excluding the potential positive impact of new products and media projects, the camera maker's revenue is poised to rise 23% this year and 20% next year, while its profit should climb 27% next year, Power forecast. At current levels, the stock's valuation is attractive, added the analyst, who kept a $57 price target on the shares. WHAT'S NOTABLE: Another analyst who is upbeat on GoPro's outlook is FBN Securities' Shebly Seyrafi. The stock has sold off despite the camera maker's "robust" growth rates, and, as of yesterday before the market opened, the shares had fallen 58% from their 52-week high of $98, Seyrafi stated in note to investors yesterday morning. The analyst believes that concerns related to entrance into the sports camera market by Chinese company Xiaomi are overblown. He strongly recommended buying shares of GoPro. ANOTHER TO WATCH: GoPro is a major customer of Ambarella (AMBA), which makes chips for video cameras. PRICE ACTION: In early afternoon trading, GoPro climbed 3.5% to $44, while Ambarella lost 1% to $68.75.

FBN 'strongly' recommends buying shares of GoProShares of GoPro around $42 are "especially attractive," FBN Securities analyst Shebly Seyrafi tells investors this morning in a research note. The stock has sold off despite the camera maker's "robust" growth rates, and is now down 58% from its 52-week high of $98, Seyrafi says. The analyst thinks concerns related to Xiaomi's entry into the sports camera market with its Yi Action Camera are overblown. He "strongly" recommends purchase of GoPro and reiterates an Outperform rating on the stock with a $75 price target. The action camera maker closed yesterday at $41.83.

eBay adds two independent directors in preparation for PayPal separationeBay (EBAY) announced the appointment of two new independent directors in anticipation of completing its previously announced separation of eBay and PayPal. Tony Bates, President of GoPro (GPRO), and Gail McGovern, President and CEO of the American Red Cross, have been appointed to eBay Inc.’s board of directors. eBay also announced that current directors William C. Ford and Richard T. Schlosberg, who have served for 10 years and 11 years, respectively, have advised the company that they do not plan to stand for re-election to the board at the 2015 Annual Meeting. With the appointment of Bates and McGovern, eBay's board currently is comprised of 17 directors, 15 of whom are independent. Following the company’s Annual Meeting, which will be held on May 1, eBay’s board will be comprised of 15 directors, 13 of whom will be independent. Additionally, eBay announced that Jonathan Christodoro has been elected to its board as part of the previously announced standstill agreement with Carl Icahn, the company’s largest active shareholder.

GoPro Channel app tops 1M downloads on Xbox platformGoPro (GPRO) announced that The GoPro Channel app has been downloaded over 1M times on the Xbox video game and entertainment system from Microsoft (MSFT). Additionally, users are watching an average of 25 minutes of GoPro videos during each viewing session. The GoPro Channel allows Xbox members worldwide to stream GoPro content on-demand, share favorite videos, and purchase cameras and accessories directly through the console.